15-1483. Issuance of bonds
217 words·~1 min read·
/az/title-15/15-1483A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The board for and on behalf of an institution is authorized from time to time to issue negotiable bonds for the purpose of acquiring a project or projects. The bonds shall be authorized by resolution of the board. The bonds may be issued in one or more series, bear such date or dates, be in such denomination or denominations, mature at such time or times, not exceeding forty years from the respective dates thereof, mature in such amount or amounts, bear interest at such rate or rates, as determined by the board, payable semiannually, be in such form either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such place or places, and be subject to such term of redemption, with or without premium, as such resolution or other resolutions may provide.
The bonds may be sold at not less than par at either public or private sale. The bonds shall be fully negotiable within the meaning and for all the purposes of title 47, chapter 3.
B. Before the issuance of bonds that do not require voter approval, a district shall submit information regarding the planned projects that will be funded with the bond proceeds to the joint committee on capital review for review.